Property entrepreneur Jon
Hunt’s investment and development company Ocubis has reported sales growth and
continues to be confident in the London
commercial market a report says.
The Evening Standard
reports that turnover grew 5% to £19.7m last year and occupancy rates increased
across its London
office portfolio, although pre-tax profits fell slightly to £5.7m.
Matt Gresham, COO at Ocubis told the Evening Standard the sale of some sites this year, including a proposed hotel site in Shoreditch, was done in order “to raise cash for investment in existing buildings and new acquisitions.”
Jon Hunt, who founded the
Foxtons, set up the business after selling out of the iconic London estate agency brand in 2007. Several
of the Ocubis directors also former Foxtons staff, now applying their detailed
knowledge of the London
market to investment and development rather than just sales and lettings.